This banking system will be regularised making it difficult for corrupt officials and politicians to pilfer money from the compulsory savings of poor recipients.

It will be upgraded to guarantee transparency and independence by implementing a credible and a practical empowerment plan to bring it under the purview of the Central Bank.

The Samurdhi Bank has assets worth Rs.400 billion including the deposits of samurdhi recipients (compulsory savings) which were invested in banks and government securities.

There are currently 1,092 samurdhi “banks” (branches) in Sri Lanka but they are not formally recognised as banks as they do not fall under the preview of the Central Bank